The Week: BMB deal collapse offers stability to TBWA management

The future of the TBWA\London senior management team looks to be more stable than this time last week, following the 11th-hour collapse of the network's proposed deal to buy Beattie McGuinness Bungay.

Keith Smith, TBWA\'s president, international, said it was "business as usual" in London with the existing agency management, which consists of Tim Lindsay, the president of UK & Ireland Group, Matt Shepherd-Smith, the chief executive, and Tom Morton, the executive planning director.

TBWA's plans to acquire BMB and merge it with its London office fell apart last week. It is thought that TBWA had tabled an offer that the BMB founders, Trevor Beattie, Andrew McGuinness and Bil Bungay, were deciding whether or not to accept.

Senior BMB sources told Campaign that it had turned the offer down, but executives from TBWA\Worldwide, which is run by Tom Carroll, the chief executive, are also claiming it pulled out of the deal, saying that the price tag was too steep.

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